Russia proposes to legalize cryptocurrency mining

In Russia, it is necessary to legalize the mining of bitcoin and other cryptocurrencies, said Artem Kiryanov, Deputy Chairman of the State Duma Committee on Economic Policy. comments “Lenta.ru”, reports RBC Crypto.

Any phenomenon that de facto exists should be described from the standpoint of law and state regulation, the deputy believes. He also noted that at the moment there is no reliable analytics about the situation in the industry.

“Since today we do not have a legislative framework, but there is a process, the Russian budget is missing at least several tens of billions a year. This is what you can get from the industry in the form of tax revenues,” Kiryanov said.

It is imperative to consolidate the concept of cryptocurrency mining, the procedures that companies in this industry must go through, as well as regulation that will legalize this activity and give a stable and substantial income to the Russian budget, the deputy emphasized.

In June, the head of the State Duma committee on the financial market, Anatoly Aksakov, admitted that mining in Russia would become legal as early as 2024.

According to BitRiver, the Russian mining industry is rapidly catching up with the American one due to increased capacity and demand from China.

Source: Cryptocurrency

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